The profit for the year before appropriation in a partnership firm was Rs.50,000 Shagun, one of the partners, receives a salary of Rs.4,000 and interest at ten per cent per annum on his capital of Rs.1,00,000. Amir, the other partner, receive interest on capital at the same rate as Shagun. Amir’s capital was Rs.89,000. They share profits and losses equally. What was the total share of profits credited to Amir’s current account?

Match List – I with List – II.

Choose the correct answer from the options given below:

Sequence the following activities in the process of standard costing.

(A) Establishing standard costs

(B) Measurement of actual costs

(C) Identifying variances and causes of variance

(D) Disposing the variances to cost and profit centers

(E) Comparison of actual and standard costs

Choose the correct answer from the options given below:

Cost audit for materials covers

(A) Goods inward procedure

(B) Methods of calculating standard cost variance

(C) Classification of overhead

(D) Accounting for scrap, wastage, materials transfers

(E) Accounting treatment of under or over absorption

Choose the most appropriate answer from the options given below: